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NEWS & CURRENT AFFAIRS

Digital News

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James Anyanzwa

Kenyan Ministries blow billions in allowances, salaries as development spend lags

Personal emoluments—allowances and salaries still constitute a chunk of the Government’s recurrent spending, a new report by the Office of the Controller of Budget (COB) shows.

By James Anyanzwa 9 years ago

Kenyan Ministries blow billions in allowances, salaries as development spend lags

Railway contractor to hire 30,000 in Kenya

Railway contractor to hire 30,000 in Kenya

By James Anyanzwa 9 years ago

Cash-strapped Kenya Government: Rotich’s uphill task to oil wheels of our economy

Cash-strapped Kenya Government: Rotich’s uphill task to oil wheels of our economy

By James Anyanzwa 9 years ago

Growing external debt to cost taxpayers more, says report

Growing external debt to cost taxpayers more, says report

By James Anyanzwa 9 years ago

Parliamentary watchdog report warns of decline in growth rate

The country failed to realise an estimated Sh81 billion wealth as a result of failure by the county governments to spend all funds allocated for development projects.

By James Anyanzwa 9 years ago

Parliamentary watchdog report warns of decline in growth rate

State plans to cross-list sovereign bond

The Government plans to cross-list its $2 billion (Sh180 billion) sovereign bond on the Nairobi Securities Exchange (NSE).

By James Anyanzwa 9 years ago

State plans to cross-list sovereign bond

Why investors should consider equity funds

Business Beat spoke to Stanlib Investment Company’s Regional Head of Business Development (East Africa), Mr Felix Gichaga, on why investors should consider equity funds as a vehicle for investing in the Nairobi Securities Exchange.

By JAMES ANYANZWA 9 years ago

Why investors should consider equity funds

Analysts warn Treasury over bid to increase debt ceiling

The Government’s plan to raise the ceiling of external borrowing by over Sh1 trillion has ruffled the feathers of many Kenyans.

By James Anyanzwa 9 years ago

Analysts warn Treasury over bid to increase debt ceiling

Centum posts Sh1.3 billion profit

Centum Investment Group posted a 24 per cent growth in pre-tax profit for the six months period ended September 30. The company's profit before tax rose to Sh1.28 billion from Sh1.03 billion in a similar period last year, driven by growth in investment income.

By James Anyanzwa 9 years ago

Centum posts Sh1.3 billion profit

How return of Capital Gains Tax will raise cost of shares, property

The cost of selling shares at the Nairobi Securities Exchange (NSE) has gone up by five per cent after the National Treasury reintroduced the Capital Gains Tax (CGT).

By James Anyanzwa 9 years ago

How return of Capital Gains Tax will raise cost of shares, property

Equity firm seeks majority stake in Resolution Insurance

Equity firm LeapFrog Investments plans to invest Sh1.68 billion ($18.7million) for a majority stake in Resolution Insurance, through its holding company, Resolution Health East Africa Ltd.

By James Anyanzwa 9 years ago

Equity firm seeks majority stake in Resolution Insurance

Why Africa is on cusp of consumer boom

Africa could benefit from an economic boom owing to potential entry of foreign investors looking to pump billions of dollars into the technology and manufacturing sectors.

By James Anyanzwa 9 years ago

Why Africa is on cusp of consumer boom

After months of inactivity, GEMS becomes the in thing

Christmas has come early for entrepreneurs and a select few investors at the Nairobi Securities Exchange.

By James Anyanzwa and Business Beat Reporter 9 years ago

After months of inactivity, GEMS becomes the in thing

Treasury yet to take up its stake in Uganda refinery

The Government is wavering on a decision to invest in the planned oil refinery to be constructed at Hoima District in Uganda.

By James Anyanzwa 9 years ago

Treasury yet to take up its stake in Uganda refinery

Co-op Bank bets on mobile wallet, regional expansion to grow profits

Co-operative Bank Group has announced a 2.5 per cent growth in pre-tax profit for the nine months to September 30.

By James Anyanzwa 9 years ago

Co-op Bank bets on mobile wallet, regional expansion to grow profits

State targets 40 per cent electricity tariff cut by next month

President Uhuru Kenyatta is keen to trim electricity tariffs by over 40 per cent by the end of December. This is part of a raft of measures designed to lower cost of doing business and attract investments.

By James Anyanzwa 9 years ago

State targets 40 per cent electricity tariff cut by next month

Proposed law seeks to limit foreign ownership in strategic firms

The Capital Markets Authority (CMA) will limit how much foreigners can own in strategic national assets.

By James Anyanzwa 9 years ago

Proposed law seeks to limit foreign ownership in strategic firms

Equity Bank secures major Tanzania Revenue Authority tax collection deal

Equity Bank Group has sealed a partnership with Tanzania Revenue Authority (TRA) allowing tax payers in the country to pay all their taxes through its network.

By James Anyanzwa 9 years ago

Equity Bank secures major Tanzania Revenue Authority tax collection deal

Pan-Africa Insurance in talks to acquire Gateway, increase market share

Pan Africa Insurance Holdings Ltd (PAIHL) has announced a take-over of Gateway Insurance Company in a move widely expected to bolster its market share and strengthen its position in the general insurance business.

By James Anyanzwa 9 years ago

Pan-Africa Insurance in talks to acquire Gateway, increase market share

Banks overlooked as firms turn to bonds

This year has been a boon for the Government and local companies, especially banks and insurance companies, looking to borrow money from the public to fund their growth.

By James Anyanzwa and Wanjala Were 9 years ago

Banks overlooked as firms turn to bonds

Insurance premiums rose 21pc, says IRA report

Insurers’ gross written premiums rose 21.1 per cent for the six months to June 30.

By James Anyanzwa 9 years ago

Insurance premiums rose 21pc, says IRA report

Sh104b bad loans blamed on high bank rates

Kenyans are yet to reap the benefits of affordable interest charges despite the Government’s spirited efforts to have commercial banks lower the cost of borrowing.

By James Anyanzwa 9 years ago

Sh104b bad loans blamed on high bank rates

KRA’s new withholding tax to worsen refund backlog, warn experts

The Government has re-introduced withholding Value Added Tax (VAT) on its suppliers in a move aimed at shoring up its revenue collections.

By James Anyanzwa 9 years ago

KRA’s new withholding tax to worsen refund backlog, warn experts

AfDB cautions Kenya over ‘growth for the rich only’

African Development Bank (AfDB) has warned against Kenya’s growth that makes a few richer while majority struggle to survive.

By James Anyanzwa 9 years ago

AfDB cautions Kenya over ‘growth for the rich only’

Kenya to benefit from more than Sh712b earmarked for Horn of Africa

Kenya is among key beneficiaries of a $8 billion (Sh712 billion) financial support pledged by global and regional institutions.

By James Anyanzwa 9 years ago

Kenya to benefit from more than Sh712b earmarked for Horn of Africa

Uproar as State slaps 25pc duty on imported paper

In what is seen as a rare policy shift, Treasury has slapped a 25 per cent duty on imported paper to protect the ailing Pan Paper Mills that collapsed more than five years ago.

By James Anyanzwa and Jackson Okoth 9 years ago

Uproar as State slaps 25pc duty on imported paper

Kenyans to register for digital IDs by February next year

The Government is set to kick off the multi-billion-shilling digital registration of persons in the next four months.

By James Anyanzwa 9 years ago

Kenyans to register for digital IDs by February next year

Authority to help ease traffic congestion in Nairobi on the way

Plans by the Government to ease traffic congestion in Nairobi and its environs through establishment of a bus rapid transit system (BRTS) is gathering steam.

By James Anyanzwa 9 years ago

Authority to help ease traffic congestion in Nairobi on the way

Good times for depositors as CBK unveils new refund plan

Central Bank of Kenya (CBK) has announced a radical compensation plan for collapsed institutions that will ensure depositors get decent refunds up from the maximum Sh100,000 guaranteed under the current scheme.

By James Anyanzwa 9 years ago

Good times for depositors as CBK unveils new refund plan

Raiply bids to buy troubled Panpaper

Raiply Ltd is among key contenders for the purchase of the troubled Webuye-based Panpaper Mills that is currently under receivership.

By James Anyanzwa and Luke Anami 9 years ago

Raiply bids to buy troubled Panpaper

Carry your own cross, players tell rogue recruitment agencies

Private employment agencies have acknowledged the presence of rogue agencies in the industry and called upon the Government to speed up vetting.

By James Anyanzwa 9 years ago

Carry your own cross, players tell rogue recruitment agencies

Kenya seeks over 835,000 tonnes of fuel for November to January

Oil importers are seeking 835,560 tonnes of oil products for delivery for November to January, about 40 per cent more than volumes purchased in September to October, according to industry sources.

By James Anyanzwa and Reuters 9 years ago

Kenya seeks over 835,000 tonnes of fuel for November to January

Uchumi prices Rights Issue at Sh9 per share

Uchumi Supermarket has priced its planned Rights Issue at Sh9 per share with hopes of raising Sh895.8 million in additional capital from the existing shareholders.

By Frankline Sunday and James Anyanzwa 9 years ago

Uchumi prices Rights Issue at Sh9 per share

CS warns traders over quality of products sold in the market

The Government has cautioned manufacturers and traders against compromising quality of products especially those that negatively impact on safety, health and environment.

By James Anyanzwa 9 years ago

CS warns traders over quality of products sold in the market

Nairobi ranked third most attractive city to investors in Africa

Kenya ranks amongst three nations perceived to be the most attractive investment destinations in Sub-Saharan Africa, a new study shows.

By James Anyanzwa 9 years ago

Nairobi ranked third most attractive city to investors in Africa

Government to auction 12-year bond worth Sh15b

The Government is seeking to raise Sh15 billion from the local debt market to fund key infrastructure projects as part of efforts to stimulate economic activities and lift the economy to a higher growth path.

By James Anyanzwa 9 years ago

Government to auction 12-year bond worth Sh15b

Equity Bank readies to issue ultra-thin SIM

Equity Bank is set to issue a ultra-thin mobile banking smart SIM with patented technology from Taiwan-based Taisys Technologies Co. Ltd.

By James Anyanzwa 9 years ago

Equity Bank readies to issue ultra-thin SIM

KRA raises alarm over Sh30b lost to tax evasion

The Government has lost over Sh30 billion in tax revenues to multinational corporations, which are shifting billions of dollars between jurisdictions to reduce or even to completely avoid their tax obligations.

By James Anyanzwa 9 years ago

KRA raises alarm over Sh30b lost to tax evasion

Will Mumias Sugar rise from the ashes?

Mumias Sugar Company (MSC) is back to the drawing board to map out a new growth plan, after its under-performance and loss making traits left shareholders staring at an estimated Sh72 billion in losses in less than eight years.

By James Anyanzwa 9 years ago

Will Mumias Sugar rise from the ashes?

Wananchi Group receives Sh11.6b from shareholders

Shareholders of Wananchi Group, owners of the Zuku Fiber, Zuku pay TV and Simbanet business services brands have injected Sh11.57 billion($130 million) of additional capital in the business.

By James Anyanzwa 9 years ago

Wananchi Group receives Sh11.6b from shareholders

Kenya gets IMF approval but report warns security needs tightening

The International Monetary Fund (IMF) has given a thumbs-up to Kenya's progress in implementing economic reforms but warned that the country remains highly vulnerable to deteriorating security conditions, weather-related shocks and difficulties in implementing devolution.

By James Anyanzwa 9 years ago

Kenya gets IMF approval but report warns security needs tightening

NSE hires consultant to spearhead recruitment of new chief executive

The Board of the Nairobi Securities Exchange (NSE) has hired consultancy firm KPMG to aid in the competitive recruitment of a new chief executive for the 60-year-old bourse.

By James Anyanzwa 9 years ago

NSE hires consultant to spearhead recruitment of new chief executive

Investment firm lowers Kenya's growth outlook

Fund managers at Pine Bridge Investments have lowered their growth forecast for Kenya, citing insecurity, weakening shilling, resurgence in inflationary pressure, rising interest rates, increased government spending on recurrent activities and erratic weather patterns.

By James Anyanzwa 9 years ago

Investment firm lowers Kenya's growth outlook

Stop wastage of public funds, counties warned

The State has cautioned public officers against misuse and wastage of public resources even as it emerged that the Executive has failed to walk the talk on controlling the ballooning public wage bill.

By James Anyanzwa 9 years ago

Stop wastage of public funds, counties warned

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